EURAUD testing major support, potential for a bounce!

9 במרץ 2018

EURAUD testing support at 1.5795 (100% Fibonacci extension , 50% Fibonacci retracement , L T 23.6% Fibonacci retracement , horizontal overlap support) and could potentially rise to its resistance area between 1.5948 and 1.5978 (61.8% Fibonacci extension , swing high resistance). We have also identified another support at 1.5718 (76.4% Fibonacci retracement , horizontal swing low support).

Stochastic (89,5, 3) shows a corresponding bounce off its support at 4.58% where it has a lot of upside potential.